Business loans, 100% government backed,

steveR · Sep 9, 2020

neilo said:
Mine left a message today, wanting a similar chat too. He’ll likely want to know what I’ve spent it on.

I guess he’ll then point out that wine, women and song aren’t actually business expenditure. Harumph!

Time to find a more adaptable Manager....

Mind, from my recent experience of my " business relationship support person", I will be doing well if they knew what a sheep looked like!

On the other hand, I have no idea if my rep is male or female, good or bad, or even exists!

Still Farming · Sep 22, 2020

https://www.facebook.com/17050705902/posts/10158801472760903

renewablejohn · Sep 23, 2020

som farmer said:
anyone who applied, not get it, From some posts, people have been having difficulty.

Both myself and wife applied with individual businesses and neither of use have been succesful. We have joint accounts with both Santander and TSB and rejected by both. Santander rejected as not business account and no option to set up business account. TSB rejected on same basis but gave option to set up Businees account. Business account set up but still rejected as business income historically paid into building society as banks paid no interest. Building society not part of the scheme. Given up as wasting so much of our time.

Adeptandy · Sep 23, 2020

Still waiting for mine, I've had to put an official complaint in to Barclays ( advised by Barclays to do it

) as it was the only way it would get looked at

steveR · Sep 23, 2020

Adeptandy said:
Still waiting for mine, I've had to put an official complaint in to Barclays ( advised by Barclays to do it ) as it was the only way it would get looked at

How ludicrous is that.....

Still Farming · Sep 23, 2020

Adeptandy said:
Still waiting for mine, I've had to put an official complaint in to Barclays ( advised by Barclays to do it ) as it was the only way it would get looked at

Financial Onbudsman Also

renewablejohn · Sep 23, 2020

Adeptandy said:
Still waiting for mine, I've had to put an official complaint in to Barclays ( advised by Barclays to do it ) as it was the only way it would get looked at

We have done the same with TSB

Sonoftheheir · Sep 24, 2020

Looks like they’re going to let us pay it off over 10 years?

Wonder if that will put up the amount of interst

SilliamWhale · Sep 24, 2020

Sonoftheheir said:
Looks like they’re going to let us pay it off over 10 years?

Wonder if that will put up the amount of interst

I shouldn't think so. But naturally you will pay more interest.

I also see another loan coming out in January too - its still seemingly going to be cheaper than any overdraft or bank arrangement hoops so will be worth keeping an eye on that too.

Still Farming · Sep 24, 2020

i

som farmer · Sep 24, 2020

well, you can't say guv isn't helping, next best stage, would be to cancel payments !!
But, i hope the guv knows what he is doing.
Always one to look for any positives, the covid job could help farming, if the £ goes down in value, imported food will go up, any disruption in supply, which with the new regulations, may happen, and brexit, UK food product may well be in demand ! The other advantage, with a low £, UK made machinery etc, will be cheaper abroad, and exports will rise.
But, whichever way you look at it, it's a effing good mess.

Still Farming · Sep 24, 2020

som farmer said:
well, you can't say guv isn't helping, next best stage, would be to cancel payments !!
But, i hope the guv knows what he is doing.
Always one to look for any positives, the covid job could help farming, if the £ goes down in value, imported food will go up, any disruption in supply, which with the new regulations, may happen, and brexit, UK food product may well be in demand ! The other advantage, with a low £, UK made machinery etc, will be cheaper abroad, and exports will rise.
But, whichever way you look at it, it's a effing good mess.

Just hope the banks will follow the rules and pass on asap also????

som farmer · Sep 24, 2020

oh, i think a pig, just flew past my window.
they will, if it suits them to do so.

Mc115reed · Sep 24, 2020

I hope they’re gonna give us another round of bounce back loans [emoji28] Iv got a shopping list and was too kind too myself with the last bounce back

[emoji23]

Sonoftheheir · Sep 24, 2020

Mc115reed said:
I hope they’re gonna give us another round of bounce back loans [emoji28] Iv got a shopping list and was too kind too myself with the last bounce back [emoji23]

Grants would be better!

som farmer · Sep 24, 2020

cancelling the last one would be good.

Mc115reed · Sep 24, 2020

Sonoftheheir said:
Grants would be better!

Oh yeah free money would be really good [emoji23] about £10k foc and would be no complaints from me

Sonoftheheir · Sep 24, 2020

som farmer said:
cancelling the last one would be good.

They never even had the cost of printing mine.

jendan · Sep 24, 2020

som farmer said:
cancelling the last one would be good.

You have now got 10 years to pay it back,instead of 6.

icanshootwell · Sep 24, 2020

I have an idea, what you do is buy a potential classic of the future, a newish tractor, use the bounce back loan to pay for it, pay interest only, use it for 10 years. After the 10 years your classic would of doubled in value, sell it to an enthusiast, pay off the loan and you get your interest back on the profit of the sale.
It,s a win win. I just need to choose a classic.

Business loans, 100% government backed,

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100% I’ve had enough of farming!

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